< Back to News

Market News

European Markets

European markets are called to open flat this morning.

Asian Markets

Asian stocks fell, snapping the benchmark index’s biggest gain in nine weeks, and Treasury yields were one basis point away from this year’s low amid signs the U.S. recovery is slowing. The yen depreciated amid speculation Japan is ready to take steps to weaken its currency.

US Markets

The Dow Jones industrial average ended down 11 points, or 0.1%, marking the seventh straight day of losses. But the modest decline came after the index tumbled more than 1% earlier in the session — following a 1% jump at the start of trading.

Home Depot and Merck were the biggest laggards on the blue chip index, with shares falling 2%.

The S&P 500 slid 5 points, or 0.4%; and the Nasdaq composite lost 12 points, or 0.4%.

Events this week

Tuesday — Before the bell, Dow component and pharmaceutical giant Pfizer will report its quarterly results. Analysts surveyed by Thomson Reuters expect the drugmaker to post a profit of 59 cents per share, down 4.7% from a year ago.

Other names reporting Tuesday include CBS Corp ., agricultural products company Archer Daniels Midland and NYSE Euronext , the parent company of the New York Stock Exchange.

The Commerce Department will release personal income and spending figures at 8:30 a.m. ET. Economists are looking for a 0.1% rise in incomes for June and a 0.1% rise in spending.

Later in the day, the major automakers’ will issue their July sales numbers starting at around 11 a.m. ET

Wednesday – Investors will get the ADP private employment report at 8:15 a.m. ET. Economists expect the private sector hired 95,000 fresh workers in July, down from the 157,000 the sector hired in the prior month.

In other economic data, the Commerce Department will release June factory orders data and the Institute for Supply Management’ will put out its service sector index at 10 a.m. ET. Economists are looking for factory orders to fall 1% and the ISM’ service sector index to fall to a reading of 53.1.

Time Warner, the media giant and parent company to CNNMoney, is expected to report a profit of 56 cents per share when it reports before the bell on Wednesday. Other notable companies reporting results include Clorox, MasterCard and Prudential.

Thursday – The Labor Department’ closely-watched weekly initial jobless claims data comes out at 8:30 a.m. ET, with economists expecting claims to rise to a reading of 405,000 claims from last week’ 398,000 claims.

Food company and Dow member Kraft will report its earnings after the closing bell. Analysts are looking for Kraft to post a profit of 58 cents a share.

Southwest Airlines, CVS Caremark, First Solar and insurance company AIG are also scheduled to report their financial results.

Friday — The week culminates with the Labor Department’ July jobs report, which comes out at 8:30 a.m. ET.

Outside of the government’ non-farm payrolls report, investors will also have earnings from Dow member Procter & Gamble as well as the Washington Post Co.and Viacom.